Bechtel and Chart Partner for Development of Floating LNG Facilities

HOUSTON, Oct. 27, 2015 /PRNewswire-USNewswire/ — Bechtel and Chart Energy & Chemicals, Inc. (Chart) have signed a long-term agreement to design and build floating LNG (FLNG) process facilities using Chart’s IPSMR® liquefaction technology. Bechtel will have the exclusive right to use Chart’s proprietary liquefaction technology for FLNG facilities, and will only purchase Chart’s proprietary equipment, including brazed aluminum heat exchangers and cold boxes, for facilities designed with IPSMR® technology.

“Chart’s liquefaction technology offers performance optimization for mid-scale LNG plants that complements Bechtel’s FLNG offering for that scale of facility,” said Joe Gebara, general manager of Bechtel’s Offshore business line. “Our collaboration with Chart will enhance current floating LNG engineering and construction models in the industry by offering efficiencies on single mixed refrigerant plants to our customers.”

“Bechtel are world renowned for their EPC and project management expertise and their proud record for the successful execution of LNG projects. We are therefore naturally delighted with this further development in our business relationship and excited by the potential for floating LNG utilizing Charts IPSMR® process in the delivery of natural gas as a clean-burning, safe and economic fuel alternative” commented Mike Durkin, president of Chart’s Energy & Chemicals business unit.

The IPSMR® liquefaction technology agreement will be managed by Bechtel Hydrocarbon Technology Solutions, Inc., a wholly owned subsidiary of Bechtel, which provides technology licensing and process consulting services to the oil and gas industry. A leader in the refining, chemical, and industrial market, Bechtel is building about one-third of liquefaction capacity under construction today.

About Bechtel

Bechtel is among the most respected engineering, project management, and construction companies in the world. We stand apart for our ability to get the job done right—no matter how big, how complex, or how remote. Bechtel operates through four global business units that specialize in infrastructure; mining and metals; nuclear, security and environmental; and oil, gas, and chemicals. Since its founding in 1898, Bechtel has worked on more than 25,000 projects in 160 countries on all seven continents. Today, our 58,000 colleagues team with customers, partners, and suppliers on diverse projects in 40 countries. www.bechtel.com.

About Chart

Chart is a leading independent global manufacturer of highly engineered equipment for the industrial gas, energy, and biomedical industries. The majority of Chart’s products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and South America. www.chartindustries.com